U.S. trade deficit hits 10-month high in June

WASHINGTON (MarketWatch) — The U.S. trade deficit jumped 8.7% in June to a 10-month high of $44.5 billion, reflecting the higher cost of oil and more imports of consumer goods such as cellphones and drugs.

Economists polled by MarketWatch had expected the trade gap to rise to $43.2 billion from a revised $41 billion in May.

Although a higher deficit subtracts from gross domestic product, the official scorecard of the nation’s growth, more demand for consumer goods suggests Americans are still spending at a pace consistent with a fairly healthy, albeit slowly, expanding economy.

U.S. imports increased 1.9% in June to a seasonally adjusted $227.7 billion the government said Friday.

U.S. exports edged up 0.3% to $183.2 billion. The U.S. exported less oil and fewer new autos in June.

The trade gap with China advanced to $29.8 billion and hit the highest level since last November. Higher purchases of electronic and other consumer goods were behind the increase.

U.S. exports to Canada, at $24 billion, were the strongest in a year.

The trade deficit has been little changed for the past year. The average deficit in the three months from April to June was $40.1 billion, slightly lower than the same month one year ago.

Intraday Data provided by SIX Financial Information and subject to terms of use.
Historical and current end-of-day data provided by SIX Financial Information.
All quotes are in local exchange time. Real-time last sale data for U.S. stock quotes reflect trades reported through Nasdaq only.
Intraday data delayed at least 15 minutes or per exchange requirements.